BCC: UK suffering from 'long-term, structural failure in business finance'

BCC director John Longworth said many firms are unable to secure the financing necessary to grow beyond being small businesses and has urged the government to address what he says is a structural failure when it comes to securing "patient finance." He said: "There is a long-term, structural failure in business finance in the UK, made worse by the banking crisis, and this hampers our ability to nurture a British Samsung or Google. "Too often, UK businesses on this journey are ‘hoovered up' by private equity, corporates and international competitors, which can reduce their wealth creati...